Investigation Reveals PBMs’ Financial Ties to Opioid Manufacturers Amid Crisis
A recent investigation reveals that major drug companies, including Purdue Pharma, engaged in secret financial arrangements with pharmacy benefit managers (PBMs) that facilitated the rampant distribution of opioids, exacerbating the ongoing opioid crisis in the United States. This report highlights the conflict of interest faced by PBMs, who prioritized profits over patient safety, and calls for urgent regulatory reforms to ensure accountability and transparency in the pharmaceutical supply chain.
US Supreme Court Blocks Legal Protections for Sackler Family in Purdue Pharma Bankruptcy Deal
The US Supreme Court has blocked a bankruptcy deal that would have protected the Sackler family, owners of Purdue Pharma, from future lawsuits related to the opioid crisis. The decision, which was seen as a victory for critics of the deal, raises uncertainties about the future of the agreement and sparks discussions about accountability and justice. Purdue Pharma, known for its production of OxyContin, filed for bankruptcy in 2019 after facing lawsuits. The ruling sets a precedent for future bankruptcy deals involving high-profile entities.
McKinsey & Co under Criminal Investigation for Alleged Role in Fueling Opioid Epidemic
McKinsey & Co is under criminal investigation in the U.S. for its alleged role in the opioid epidemic, focusing on its work with Purdue Pharma and other drug manufacturers. The investigation centers on suspicions of criminal conspiracy, healthcare fraud, and obstruction of justice. This probe could lead to criminal charges, civil sanctions, or closure without action, potentially impacting McKinsey and its executives with substantial financial penalties.